It was recently reported by Cointelegraph that the RAND Corporation, a US based think tank, recently released a report on the current and future states of cryptocurrency being used to fund terror. The findings? It isn’t being used now, but may be if it ever stabilizes.
The report, which is titled “Terrorist Use of Cryptocurrencies: Technical and Organizational Barriers and Future Threats,” focuses on both the current state of affairs in crypto and the potential it has. The general concensus is that terrorism has yet to embrace crypto for a couple of reasons. One is the same reason a lot of institutions are still wary to use crypto as a form of cash: It’s still too volatile. Terrorists are like everyone else in at least the aspect that they don’t want the value of their money to drop by half in a month.
Another issue is anonymity. There are certainly privacy coins, but many cryptos don’t actually offer private transactions, so in most cases some form of cash is far safer to cover one’s tracks.
The report does explore the idea that if volatility were to lessen and if the governments of the world fail to craft effective regulations, then in time crypto could become an actual avenue for terrorist funding.
It seems unlikely that governments will fail to act, though arguably this report is a step in getting them to do so. Will crypto one day be a tool for terror? Stick with Chepicap for any updates!
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